BD sees double-digit growth in first quarter of 2016

BD has announced its financial results for the first quarter of 2016, during which it delivered a quarterly adjusted revenue total of $2.99 billion (2.05 billion pounds).

This represents a 45.9 percent increase over the prior-year period as reported, or 53.8 percent on a currency-neutral basis. The scale of this increase was driven by the recent acquisition of CareFusion.

On a comparable currency-neutral basis, first-quarter adjusted revenues grew 1.8 percent, with solid performance across BD's medication management solutions, medication and procedural solutions, pharmaceutical systems and diabetes care units.

The strength of its medical segment, bolstered by the CareFusion takeover, helped to offset a decline within its life sciences business, and will drive the firm's future success over the remainder of 2016.

On a comparable currency-neutral basis, the company continues to estimate organic adjusted revenues will increase by between 4.5 to five percent for the full year.

Vincent Forlenza, chairman, chief executive officer and president, said: "Both segments contributed to growth and we expanded our operating margins as we continued to make investments to support our innovation strategy."